Neobroker: Bitpanda, Smartbroker, Trade Republic & Co in comparison

Scalable Capital, Trade Republic, Robinhood and, more recently, Bitpanda: the so-called neo-brokers have been springing up like mushrooms in recent months and years. In the meantime, their offerings have grown substantially and keeping track of all things going on can be pretty challenging. To make it easier, we have compared the leading brokers.

Neobrokers: Trading on the go

Not so long ago, anyone who wanted to trade securities had to use a PC – and first learn how it works. We still recommend this today, but the entry barrier for securities trading has become considerably lower: nearly all neo-brokers now offer apps for the most popular smartphone operating systems, so trading happens “on the go” – anytime, anywhere.

Differences & similarities between neobrokers

Of course, there are also differences between the individual providers – for example, their offers and their target group, but above all – the costs and the requirements for opening an account. In addition, Scalable or Trade Republic, for example, offer savings plans, which is even free in the basic version of both providers.  In summary: If you want to trade ETFs through your smartphone, you should think about which platform to use. Here is some help.

Bitpanda

On April 21, 2021, the Viennese crypto unicorn Bitpanda also joined the neobroker ranks. At this stage, its ETFs and stock offering is not as extensive as its competition, but Bitpanda lures with investments in partial stocks. Customers can invest from small amounts just one euro.

Scalable Capital

According to their own statement,  Scalable Capital is “Europe’s leading digital asset management company”. Their license comes from Baader Bank, and there are two trading venues to choose from. There is also a savings plan, as well as deposit insurance.

Smart Broker

Relatively young, Smartbroker relies on a large selection of trading venues and a free savings plan. There is deposit protection, and DAB Bank acts as a license partner.

Trade Republic

The Berliners try to lure customers with favorable conditions. There are free savings plans, no order commissions and several trading venues. Trade Republic has its own banking license.

Justtrade

Justtrade does not offer any savings plans and can currently only be used in Germany. Founded in 2019, Sutor Bank acts as a partner for the license.

Nextmarkets

Information about the fees is quite vague, but Nextmarkets itself makes a fair offer.

Gratisbroker

The name does not necessarily create trust, but Gratisbroker  is one of the serious offers on the market. A savings plan is said to be in the planning stage, but it does not exist as yet. There is currently only one trading venue, and the fees are moderate – if the order volume is right. Savings plans should be in the works.

Flatex.at

The Austrian version is to be the “Volksbroker”. This designation is probably a little unfortunate, but the offer fits. Savings plans are also available, and there are also sufficient trading venues.

BUX

BUX comes from the Netherlands and is the fastest growing neobroker in Europe. Its so-called “zero orders” are free of charge, as are deposits and withdrawals. There are no administration fees either. Only “market orders” and “limit orders” cost one euro.

Robinhood

The US broker is known worldwide, but can currently only be used in the USA. It is still unclear whether and when Robinhood will come to Europe.

Legal Notice:

The material contained in this post is for informational purposes only. Trending Topics does not recommend any action based on this information. The material is not to be construed as an offer or recommendation to buy or sell any security, or as investment advice. Furthermore, this information does not represent a guarantee that the systems described here are suitable or useful for an individual. Past performance is not an indicator of future price developments.